Machine Learning in Payments – an Overview in Disruptive Times

Here at Emerj we’re dedicated to cutting through the AI hype that’s permeating the current zeitgeist in the business world. Although we’re skeptical about many of the claims that AI vendors make on their websites about what they’re AI software can do, it seems unlikely that the AI hype is going to disappoint venture capitalists and governments enough to usher in a third AI winter.

Almost all young companies and companies in the start-up ecosystem today would like to talk about how they leverage AI or machine learning. In most cases, this is to make their product sound special and exciting. However, the fact is most young companies do not have the resources or the talent needed to leverage artificial intelligence in a way that would add to their value proposition.

Broadly, artificial intelligence involves a machine doing something that only a human would be able to do. That said, computer scientists disagree on if certain computing capabilities from several years ago still constitute AI. Nowadays, many of these capabilities might just be called software.

Many business leaders make the mistake of believing that AI and machine learning are like regular IT, but this could not be further from the truth. In large part, this is because, unlike simple software solutions for discreet business problems, it can be very difficult to measure the ROI of machine learning.

The COVID19 outbreak has changed the world faster than anyone could have imagined.

Forced isolation has shifted meetings and activities to go on through web collaboration tools.